Concrete Admixture Market To Grow At 9.0% CAGR Over 2017-2024
SELBYVILLE, Del., April 23, 2018 /PRNewswire-iReach/ -- Strong need to revamp the construction industry in Europe and North America to promote sustainable construction practices will help make significant gains to the concrete admixture market by 2024. Limited product responsiveness across unorganized construction industry along with unavailability of trained labor are probable to impede the concrete admixture market size by 2024. However, rising need to conserve water resources will generate plentiful opportunities for product which in turn will propel concrete additive market size by 2024.
Concrete Admixture Market size is forecast to exceed USD 38 billion by 2024; according to a new research report by Global Market Insights,Inc. Strong demand of concrete admixtures in the emerging economies of Middle East & Asia-Pacific coupled with rise in spending on infrastructure activities globally will drive the concrete admixtures market. For instance, UAE has been making considerable investment in constructing ports.
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The Khalifa port is itself valued at USD 24 billion which will boost the demand of concrete admixtures. These trends are probable to make subsequent influence on concrete admixture market size by 2024. Additionally, growing urbanization rate in the Asia Pacific is another major factor which will help achieve promising gains to concrete additive market size by 2024. These products possess exceptional properties, such as high workability, reduced water cement proportion which makes it preferable across construction sector.
Water reducer concrete admixture accounted for more than 50% of the overall market size in 2016. This is mainly attributed to its superior properties which helps in creating slumps at lower water cement ratio and henceforth results in improving concrete properties for its application under difficult conditions including bridge decks, patching concrete, low slump concrete overlays, etc. Some of the commonly used water reducers are lignosulfonic acids, hydroxylated carboxylic acid, etc. their salts and derivatives. Consistently advancing admixture technology to improve the concrete performance has resulted in development of mid-range water reducers which will drive the concrete admixture market size by 2024.
Concrete admixture market size for commercial applications is projected to rise at a CAGR of more than 9% by 2024 fueled by rise in infrastructure activities in developing economies such as bridges, tunnels, airports, roads, warehouses, manufacturing facilities, etc. For instance, government of India have announced spending USD 59 billion to modernize its infrastructure in the coming years which will make noteworthy contribution to the overall concrete admixture market size by 2024.
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Middle East & Africa concrete admixture market size is likely to grow at a CAGR of more than 9.5% by 2024. Governments of Oman, Qatar, Saudi Arabia have been making huge investment to improve the overall infrastructure of the region and shift from oil-based economy.
Concrete admixture market share is exceedingly consolidated, with prominent players accounting for over half of the total business size in 2016. The major players include CEMEX, BASF, RPM International, Bostik, CICO Group, Sika, MAPEI, Dow, FOSROC, Euclid Chemical and Cementaid. The players are expanding their volume to fulfill the growing product demand in the world. For example, in November 2017, Sika launched a new concrete admixture manufacturing plant in Ethopia to fulfill the growing admixture demand regionally.
Browse key industry insights spread across 450 pages with 532 market data tables & 30 figures & charts from the report, "Concrete Admixture Market Size By Product (Superplasticizers, Accelerators, Retarders, Water Reducers, Air Entraining Mixture, Fly Ash, Silicate Fume), By Application (Residential, Non-residential, Commercial), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, Saudi Arabia, UAE, Kuwait), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024" in detail along with the table of contents:
https://www.gminsights.com/toc/detail/concrete-admixtures-market
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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